in Business & Finance

No current lifeline for Comair

Posted 28 July 2020 · Add Comment

South Africa’s Comair, the operator of Kulula and British Airways flights in SA, is facing possible termination and liquidation of its business as lenders refuse to provide it R226m ((USD13.65 million).

 

Comair faces possible termination and liquidation.  Image: Comair


Due to this, Comair has defaulted on insurance and maintenance payments for its entire aircraft fleet.

 

Business Rescue Practitioners (BRPs) Shaun Collyer and Richard Ferguson have been searching for financial help to resurrect the privately-owned firm.

 

Collyer and Ferguson said: “In the absence of any PCF, and a capital raising process to underpin the financial and operational elements of a business rescue plan, we will have no other option but to conclude that there is no longer a reasonable prospect of rescuing the company.”

 

It would also affect Comair’s plan to return to the skies in November 2020 after the government imposed travel restrictions in March to slow the spread of Covid-19.

* required field

Post a comment

Other Stories
Advertisement
Latest News

GECAS Cargo adds more 737-800BCF Narrowbody freighters

GECAS has signed an agreement with Boeing converting 11 737-800 Boeing Converted Freighter options to firm orders and adding nine additional options to the GECAS Cargo order book.

Rolls-Royce takes next step in sustainability drive

Rolls-Royce has started its latest phase of testing on its low-emissions technology for its next generation of engines.

Impact of COVID-19 on African Aviation is worsening

The International Air Transport Association (IATA) released new data indicating that the impact of COVID-19 on Africa’s aviation industry and economies has worsened sharply since the previous assessment in April.

New ground handling implemented at Seychelles International Airport

With the resumption of commercial passenger services at the beginning of the month, a comprehensive set of new ground handling measures have been implemented at Seychelles International Airport.

Jambojet launches PWA

In an effort to accelerate digitisation, regional low-cost carrier Jambojet has introduced a Progressive Web App (PWA) that will allow customers book tickets, check in and access their boarding pass on their smartphones.

Cessna Grand Caravan EX fleet in Africa grows

Textron Aviation has been awarded a contract by ATI Engineering Services for two multi-mission Cessna Grand Caravan EX aircraft for the Rwanda Defence Force (RDF) in support of the African Partnership Flight initiative.

AMAC SK2907290121
See us at